Oil Market Snapshot — Fri, 11 Sep 2026 09:00 UTC
Published 2026-09-11 09:05
The Strait of Hormuz closure, officially confirmed at 08:30 GMT, has sent the global oil market into immediate overdrive. This critical chokepoint's shutdown, coupled with a Disruption Index surging to 998, up 899 points from the prior reading, underpins the aggressive price action. WTI Crude reached 101.08 USD/barrel, a 24-hour increase of 6.69%, while Brent Crude Oil hit 100.5 USD/barrel, up 5.57%. A secondary WTI quote of 101.7 USD/barrel (+5.31%) further reinforces the upward trend, as does Brent Crude at 104.52 USD/barrel (+3.19%). Gulf Ministers are scheduled to meet Iran, aiming for a resolution, but immediate supply fears dominate. LNG Europe spot price remains unchanged at 0 EUR/MWh, reflecting its limited short-term impact amidst the oil crisis. The market now awaits the outcome of diplomatic efforts and any clarity on Hormuz reopening.
Price snapshot
| Commodity | Price | Change |
|---|---|---|
| Brent Crude Oil | 100.5 USD/barrel | 5.57 |
| WTI Crude Oil | 101.7 USD/barrel | 5.31 |
| LNG Europe spot price | 0 EUR/MWh | 0 |
| Urea fertilizer spot price | 0 USD/MT | 0 |
| Methanol spot price | 0 USD/MT | 0 |
| Sulfur spot price | 0 USD/MT | 0 |
| Aluminium LME spot price | 0 USD/MT | 0 |
| VLCC tanker freight rate | 0 USD/day | 0 |
| Petrochemicals | USD/ | 0 |
| Brent Crude | 104.52 USD/barrel | 3.19 |
Top movers
- WTI Crude: % —
- Brent Crude Oil: % —
- WTI Crude Oil: % —
- Brent Crude: % —
- LNG Europe spot price: % —
Frequently asked questions
- What moved oil prices this hour?
- WTI Crude led with a +6.69% move.
- What is the current Strait of Hormuz status?
- Strait of Hormuz Closed; Gulf Ministers to Meet Iran for Deal
- What is the Disruption Index?
- Currently 998, up 899 vs prior reading.